We stayed at the Roosevelt a few years ago. Very nice hotel. About a ten minute walk to Times Square and about the same to the Empire State Buliding which is a must to do twice i.e. day time and night time. Not far to Grand Central Station either. Hope this helps and have a good trip.
Try the New Yorker. Its in a great position - about a block from Macy's (in case you are a shopper), and a couple of blocks from Empire State Building (yes, must do night and day visits). The subway is over the road, it does good breakfasts, their is a cinema accross the road (for a sit down). I've recently had emails from them saying they have been re-furbed and it looks really good. Only a 3* but you aren't in the rooms long are you?
i have stayed at the new yorker too they were just finishing renovating it last april when i was there
it is across the road from madison square gardens and penn station, found it a great location
recommend Cafe 34 for breakfast! and Andrew's diner
check tripadvisor and virtualtourist websites for reviews and photos of the hotels etc
Enjoy!